Ever since the collapse of Soviet-bloc socialism, and the associated breakup of the Soviet Union itself, it has been accepted by the vast majority of political economists that Friedrich A. Hayek and his fellow Austrians, notably his mentor, Ludwig von Mises, were the unequivocal victors in the famous “socialist calculation debate” that had raged for a good seven decades. It was over. The anti-socialist, Austrian position had won. Market capitalism was triumphant in both theory and practice. The combination of lack (...) of incentives and inevitably dispersed and asymmetric information had doomed command central planning of economies, especially in an increasingly complicated modern world economy (Rosser and Rosser, 2004, Chap. 3). (shrink)

A deep theme of Austrian economics has been that of spontaneous order or selforganization of the economy. The origin of this theme dates to the putative founder of the Austrian School, Carl Menger, with his theory of the spontaneous emergence of money for transactions purposes in primitive economies being archetypal example (Menger, 1892). Menger drew this approach from the Scottish Enlightenment figures David Hume, Adam Ferguson, and Adam Smith, with the latter’s Wealth of Nations (1776) particularly important. The most important (...) developer of this idea within the tradition after Menger was F.A. Hayek (1948), who would identify this self-organization phenomenon with emergence, later expanding upon this into the broader concept of complexity (Hayek, 1952, 1967). Caldwell (2004) argues that this became an increasingly important focus of Hayek’s thought in the later years of his life. Among those examining this development in more detail besides Caldwell have been Koppl (2006, 2009), Rosser (2010a),1 and Lewis (2010). This essay will consider more thoroughly the relationship between the concepts of emergence and complexity and the roles that they have played in Austrian economics as well as more broadly in philosophy and science. An important point is that both of these concepts do not possess precise meanings; they are “terms of art” within philosophy. However, while closely linked through the general idea of a whole being “greater than.. (shrink)

distraction that leads innocent Post Keynesians into “classical sin.” Davidson (1994, 1996) argues that core Post Keynesian (PK) ideas such as that insufficient aggregate demand arise from fundamental uncertainty in a monetary economy do not depend on nonlinearity or complexity, that these core concepts are axiomatically and ontologically true, and that the inability of agents to forecast well in dynamically complex situations reflects mere epistemological problems of insufficient computational abilities. Thus complex dynamics is merely a classical stalking horse. This writer (...) (Rosser, 1990, 1998, 2001) disagrees with the argument presented above and its relatives (Mirowski, 1990; Carrier, 1993). Dynamic complexity provides a foundation for fundamental uncertainty in Keynesian and PK models, and this applies to most of the various sub-branches of PKE besides Davidson’s “fundamentalist” or “Keynes-Post Keynesian”2 approach. The argument will be considered regarding three subdivisions of Post Keynesianism as identified by Hamouda and Harcourt (1988): the aforementioned fundamentalist Keynesianism, Sraffian (or neo-Ricardian), and Kaleckian (or Kaleckian- Robinsonian).3 Following King (2002, chap. 10), I admit to being more in sympathy with those he describes as “synthesizers” than with the more partisan sectarians of these approaches.4 I shall describe how each sub-branch has been analyzed using ideas of.. (shrink)

According to Bikas Chakrabarti (2005, p. 225), the term econophysics was neologized in 1995 at the second Statphys-Kolkata conference in Kolkata (formerly Calcutta), India by the physicist H. Eugene Stanley, who was also the first to use it in print (Stanley, 1996). Mantegna and Stanley (2000, pp. viii-ix) define “the multidisciplinary field of econophysics” as “a neologism that denotes the activities of physicists who are working on economics problems to test a variety of new conceptual approaches deriving from the physical (...) sciences.” The list of such problems has included distributions of returns in financial markets (Mantegna, 1991; Levy and Solomon, 1997; Bouchaud and Cont, 1998; Gopakrishnan, Plerou, Amaral, Meyer, and Stanley, 1999; Sornette and Johansen, 2001; Farmer and Joshi, 2004) the distribution of income and wealth (Drăgulescu and Yakovenko, 2001; Bouchaud and Mézard, 2000; Chatterjee, Yarlagadda, and Charkrabarti, 2005), the distribution of economic shocks and growth rate variations (Bak, Chen, Scheinkman, and Woodford, 1993; Canning, Amaral, Lee, Meyer, and Stanley, 1998), the distribution of firm sizes and growth rates (Stanley, Amaral, Buldyrev, Havlin, Leschhorn, Maass, Salinger, and Stanley, 1996; Takayasu and Okuyama, 1998; Botazzi and Secchi, 2003), the distribution of city sizes (Rosser, 1994; Gabaix, 1999), and the distribution of scientific discoveries (Plerou, Amaral, Gopakrishnan, Meyer, and Stanley, 1999; Sornette 1 and Zajdenweber, 1999), among other problems, all of which are seen at times not to follow normal or Gaussian patterns that can be described fully by mean and variance. The main sources of conceptual approaches from physics used by the econophysicists have been from models of statistical mechanics (Spitzer, 1971), geophysical models of earthquakes (Sornette, 2003), and “sandpile” models of avalanches, the latter involving self-organized criticality (Bak, 1996). An early physicist to assert the essential identity of statistical methods used in physics and the social sciences was Majorana (1942). A common theme among those who identify themselves as econophysicists is that standard economic theory has been inadequate or insufficient to explain the non-Gaussian distributions empirically observed for various of these phenomena, such as “excessive” skewness and leptokurtotic “fat tails” (McCauley, 2004).. (shrink)

Kumaraswamy Vela Velupillai [74] presents a constructivist perspective on the foundations of mathematical economics, praising the views of Feynman in developing path integrals and Dirac in developing the delta function. He sees their approach as consistent with the Bishop constructive mathematics and considers its view on the Bolzano-Weierstrass, Hahn-Banach, and intermediate value theorems, and then the implications of these arguments for such “crown jewels” of mathematical economics as the existence of general equilibrium and the second welfare theorem. He also relates (...) these ideas to the weakening of certain assumptions to allow for more general results as shown by Rosser [51] in his extension of Gödel’s incompleteness theorem in his opening section. This paper considers these arguments in reverse order, moving from the matters of economics applications to the broader issue of constructivist mathematics, concluding by considering the views of Rosser on these matters, drawing both on his writings and on personal conversations with him. (shrink)

Two names often grouped together in the study of religion are Friedrich Schleiermacher (1768–1884) and Rudolf Otto (1869–1937). Central to their understanding of religion is the idea that religious experience, characterized in terms of feeling, lies at the heart of all genuine religion. In his book On Religion, Schleiermacher speaks of religion as a “sense and taste for the Infinite.” In The Christian Faith, Schleiermacher grounds religion in the immediate self-consciousness and the “feeling of absolute dependence.” Influenced by Schleiermacher, Otto (...) also grounds religion in an original experience of what he calls “the numinous,” which can only be grasped through states of feeling. This article discusses the views of Otto and Schleiermacher on religion as feeling. It examines how both men conceived of feeling, the reasons they believed religion had to be understood in its terms, and the common threads linking their perspectives. It also considers Schleiermacher's interpretation of religious feeling as transcendental experience. (shrink)

This paper explores the charge by Bruce Aune and Allen Wood that a gap exists in Kant's derivation of the Categorical Imperative. I show that properly understood, no such gap exists, and that the deduction of the Categorical Imperative is successful as it stands.

This paper explores Kant's concept of the highest good and the postulate of the existence of God arising from it. Kant has two concepts of the highest good standing in tension with one another, an immanent and a transcendent one. I provide a systematic exposition of the constituents of both variants and show how Kant’s arguments are prone to confusion through a conflation of both concepts. I argue that once these confusions are sorted out Kant’s claim regarding the need to (...) postulate God’s existence from a moral point of view makes much more sense. (shrink)

In my chapter "Christology and Anthropology in Friedrich Schleiermacher,” I discuss Schleiermacher's understanding of both the person and work of Christ. Schleiermacher's dialogue with the orthodox Christological tradition preceding him, as well as his understanding of the work of Christ, is founded on a critical analysis of the fundamental person-forming experience of being in relation to Christ and the community founded by him. I provide an analysis of Schleiermacher's discussion of the difficulties surrounding the use of the word "nature" in (...) relation to Jesus' humanity and divinity, and then move to discuss how Schleiermacher understands both the humanity and divinity of Jesus, as well as how the two stand in relation to one another. In the original divine decree Jesus Christ is ordained as the person through which the whole human race is to be completed and perfected, and the essence of perfect human nature just is to express divine. This is the essence of Schleiermacher's solution to the Christological problem, that is, of how the divine and the human can converge in one person. I then move to discuss Schleiermacher's understanding of the work of Christ as involving two interrelated moments. The first is the awakening of the God-consciousness. The second involves the self-expression of this God-consciousness in the form of Christian love in the community of believers. As such, the principle work of Christ is the founding of the kingdom of God. (shrink)

Against those who dismiss Kant's project in the "Religion" because it provides a Pelagian understanding of salvation, this paper offers an analysis of the deep structure of Kant's views on divine justice and grace showing them not to conflict with an authentically Christian understanding of these concepts. The first part of the paper argues that Kant's analysis of these concepts helps us to understand the necessary conditions of the Christian understanding of grace: unfolding them uncovers intrinsic relations holding between God's (...) justice and grace. Parts two and three provide an analysis of two concepts of grace used by Kant. Getting clear on their differences is the key to understanding why Kant's account is not Pelagian. (shrink)

This article explores the early Schleiermacher's attempts to deal with difficult philosophical problems arising from Kant's ethics, specifically Kant's notion of transcendental freedom. How do we connect a transcendentally free act with the nature of the subject? Insofar as the act is transcendentally free, it cannot be understood in terms of causes, and this means that it cannot be connected with the previous state of the individual before he or she engaged in the act. I work through Schleiermacher's grappling with (...) this problem by taking a thorough look at some of Schleiermacher's early essays and reviews. My main focus will be Schleiermacher's early essay On Freedom, written between 1790-92. I will, however, also be taking a look at Schleiermacher's notes on Kant's second Critique (1789), the third of his Dialogues on Freedom(1789), and his critical review of Kant's Anthropology from a PragmaticPointof View (1799). (shrink)

Both in the Speeches and in The Christian Faith Schleiermacher offers a comprehensive theory of the nature of religion, grounding it in experience. In the Speeches Schleiermacher grounds religion in an original unity of consciousness that precedes the subject–object dichotomy; in The Christian Faith the feeling of absolute dependence is grounded in the immediate self-consciousness. I argue that Schleiermacher's theory offers a generally coherent account of how it is possible that differing religious traditions are all based on the same experience (...) of the Absolute. I show how Schleiermacher's programme can respond successfully to three related contemporary objections to religious pluralism: (1) different religions make competing truth-claims about the nature of reality and they cannot all be right; (2) differing traditions cannot all be based on a similar religious experience because all experience is interpreted; and (3) the pluralist needs to have criteria in place distinguishing real and illusory religious experience, but such criteria are elusive. (Published Online April 21 2004). (shrink)

One of the principle aims of the B version of Kant’s transcendental deduction is to show how it is possible that the same “I think” can accompany all of my representations, which is a transcendental condition of the possibility of judgment. Contra interpreters such as A. Brook, I show that this “I think” is an a priori (reflected) self-consciousness; contra P. Keller, I show that this a priori self-consciousness is first and foremost a consciousness of one’s personal identity from a (...) first person point of view. (shrink)

This chapter traces how theism was developed by leading 19th and 20th century figures (Schleiermacher, Hegel, Kierkegaard, Nietzsche, Rahner, and Tillich) responding to Kant’s Copernican revolution in philosophy. Part one deals with the ontological nature of subjectivity itself and what it reveals about the conditions of the possibility of a subject’s relation to the Absolute. Part two explores the role of subjectivity and interiority in the individual’s relation to God, and part three takes a look at the theme of the (...) “unhappy consciousness,” how its development led to important attacks on theism, and the resources available to theology in countering these attacks. (shrink)

Debate about the nature of time has been dominated by discussion of two issues: the reality of absolute time and the reality of A-series. We argue that Aristotle adopts a form of the A-theory entailing a denial of the reality of absolute time. Furthermore, Aristotle's denial of absolute time is linked to a denial of the reality of pure temporal becoming, namely, the idea that the now moves through a fixed continuum along which events are arranged in chronological order. We (...) show that the puzzles discussed by Aristotle in IV:10 of the Physics are generated by this view of time and that Aristotle's own theory of time, according to which changes are used to measure one another, avoids these problems. (shrink)

This paper explores two themes—Schleiermacher’s realism and his perspectivalism—and their significance for a theory of religion. I show that Schleiermacher's theory offers an account of human subjectivity and epistemological modesty that at the same time allows us to affirm the reality of the Absolute.

In this paper I argue that an in-depth investigation into Kant’s categorical imperative reveals profound and surprising insights into the nature of persons and what specifically about them equips them for religious life. I examine the CI both in the context of the relation to God and to others and in so doing assess the implications of Kantian moral theory on theology’s understanding of the first and second great commandments. The first part of the paper explores what Kantian moral requirements (...) reveal about the structure of human rationality and its implications, in particular with regard to self-transcendence. The second part of the paper connects this understanding of self-transcendence with the Christian notion of agape and investigates what it reveals about the first and second great commandments. (shrink)

In this paper I explore how Kant’s development of the idea of the disposition in the Religion copes with problems implied by Kant’s idea of transcendental freedom. Since transcendental freedom implies the power of absolutely beginning a state, and therefore of absolutely beginning a series of the consequences of that state, a transcendentally free act is divorced from the preceding state of an agent, and would thus seem to be divorced from the agent’s character as well. The paper is divided (...) into two parts. First I analyze Kant’s understanding of the disposition and discuss the ways in which it allows us to understand a person’s transcendentally free actions in terms of that person’s character. I then discuss Kant’s resources for understanding the Socratic injunction to care for the soul in light of his concept of the disposition. (shrink)

In order to clarify the relationship between morality and law, it is necessary to define both concepts precisely. Cultural realities refer to concepts which are more specifically defined if we focus towards the genealogy of those realities, that is to say, their motivation, function and aim. Should we start from legal anthropology, comparative law and history of law, law arises as a social technique which coactively imposes ways of solving conflicts, protecting fundamental values for a society's co-existence. Values subject to (...) being protected are proposed by morality, the latter making subordination of law to morality inevitable. This explains that a great number of modern constitutions include a reference to fundamental moral values, that is to say, they have explicitly positivised moral contents. Legal reasoning, at all levels and expressions, needs to appeal to the aforementioned values. Constitutional reasoning, international law, legislative activity and judicial practice are studied to verify the latter. This subordination of law to morality sets out a serious problem: moralities are cultural realities which are only valid for a specific society. In order for law not to fall in a not very rational legal relativism, law should not be subordinated to morality, but to ethics, the latter understood as cross-cultural morality. The Universal Declaration of Human Rights was a step forward in this sense. (shrink)

This essay analyzes the category of “the holy” as developed by Rudolf Otto, examining his division of the holy into rational and non-rational elements. While rational elements of the holy are closely tied to ethics, another aspect of the holy can only be apprehended through sui generis feelings irreducible to other mental states. But how do non-rational elements relate to rational, ethical categories? I trace the distinction between rational and non-rational elements in Otto’s analysis to Kant’s two faculty psychology: the (...) holy is apprehended in one way through feeling, in another way through thought, but a single ultimate reality is experienced. (shrink)

Increasingly in economics what had been considered to be unusual and unacceptable has come to be considered usual and acceptable, if not necessarily desirable. Whereas it had been widely believed that economic reality could be reasonably described by sets of pairs of linear supply and demand curves intersecting in single equilibrium points to which markets easily and automatically moved, now it is understood that many markets and situations do not behave so well. Economic reality is rife with nonlinearity, discontinuity, and (...) a variety of phenomena that are not so easily predicted or understood. At the same time the broad coherence of economic systems is more impressive than ever in the face of such phenomena. The order of the economy appears to emerge from the complex interactions that constitute the evolutionary process of the economy. These phenomena have come to be labeled as complexity in economics. Even what seems simple in economics generally arises from behavior not reflecting rational expectations; we live in a world that reflects the enormous variety and diversity of humanity in their knowledge, attitudes, and behaviors, interacting with each other in an enormous range of institutional frameworks. What emerges in the aggregate may have little to do with what happens at the individual level. But this aggregate cannot be simply described by some set of aggregate equations. It emerges out of the soup of the individual and particular with all its multiform interactions and peculiarities. (shrink)

Kant’s aim in the Refutation of Idealism is to show that the temporal determination of inner experience presupposes outer experience. Commentators have rightly noted the extraordinarily compressed character of Kant's argument, and numerous gaps in the argument have been pointed out. In this paper I focus on two of these gaps and provide a reconstruction of Kant's argument that closes them.

The science writer, John Horgan (1995, 1997), has ridiculed what he labels “chaoplexology,” a combination of chaos theory and complexity theory. A central charge against this alleged monstrosity is that it, or more precisely its two component parts separately, are (or were) fads, intellectual bubbles of little consequence. They would soon disappear and deservedly so, once scholars and intellects realized what worthless dross they truly were (or are). As the culminating centerpiece of his argument, Horgan introduced the label, “the four (...) C’s,” which consist of cybernetics, catastrophe theory, chaos theory, and complexity theory.[2] More.. (shrink)

Roger Koppl (2009, p. 1) argues that “Austrian economics is a school of thought within the broader complexity movement in economics.” Is he correct? While there are many who have argued for some overlapping between the two, I shall argue that this is probably an overly strong statement. The main reason is that there are substantial elements and strands within Austrian economics that do not fit in with any of the multiple varieties of complexity theory, even though there are some (...) that clearly do. While I have some disagreements with Koppl’s argument, I think that he does a good job of identifying some of the main strands of Austrian economics that are consistent with complexity thought. The most important of these are associated with the work of Friedrich A. Hayek, who.. (shrink)

Three principles of dialectical analysis are examined in terms of nonlinear dynamics models. The three principles are the transformation of quantity into quality, the interpenetration of opposites, and the negation of the negation. The first two of these especially are interpreted within the frameworks of catastrophe, chaos, and emergent dynamics complexity theoretic models, with the concept of bifurcation playing a central role. Problems with this viewpoint are also discussed.

We consider Friedrich Hayek’s Road to Serfdom in light of global ideological and economic developments during the sixty years since its publication. Specific problems considered include socialism and planning, whether national socialism was really socialism, whether Hayek’s views could be labeled as social democratic and whether his critique of social democracy was too strong, and his discussion of the prospects for international economic order. While often right and enormously influential, Hayek himself agreed that some of his predictions did not become (...) true. (shrink)

The paper reviews statistical models for money, wealth, and income distributions developed in the econophysics literature since the late 1990s. By analogy with the Boltzmann-Gibbs distribution of energy in physics, it is shown that the probability distribution of money is exponential for certain classes of models with interacting economic agents. Alternative scenarios are also reviewed. Data analysis of the empirical distributions of wealth and income reveals a two-class distribution. The majority of the population belongs to the lower class, characterized by (...) the exponential (“thermal”) distribution, whereas a small fraction of the population in the upper class is characterized by the power-law (“superthermal”) distribution. The lower part is very stable, stationary in time, whereas the upper part is highly dynamical and out of equilibrium. (shrink)

The implications for how teach macroeconomics at the undergraduate level of the emergence of the multidisciplinary study of nonlinear complex dynamics are examined. A definition of complex dynamics is presented and a broad review of various applications in macroeconomics is made. Some particular implications are emphasized such as how complex dynamics raise serious doubts about the rational expectations assumption. Several models and approaches are suggested that can be used to make these ideas accessble to students.

Relationships are studied between the non-observed economy, income inequality, corruption, social capital measured as trust, and various institutional quality, policy, and macroeconomic variables for a global data set of countries for two time periods accounting for social interactions. Tentative support is found for positive relations between the non-observed economy and income inequality, the non-observed economy and corruption, and a negative relation between corruption and trust. No significant relation was found between the nonobserved economy and tax rates, contrasting with previous studies (...) finding significant relations of opposite signs. Data difficulties and weak robustness tests suggest limits to our results. (shrink)

This paper examines the rising competition between computational and dynamic conceptualizations of complexity in economics. While computable economics views the complexity as something rigorously defined based on concepts from probability, information, and computability criteria, dynamic complexity is based on whether a system endogenously and deterministically generates erratically dynamic behavior of certain kinds. On such behavior is the phenomenon of emergence, the appearance of new forms or structures at higher levels of a system from processes occurring at lower levels. While the (...) two concepts can overlap, they represent substantially different perspectives. A competition of sorts between them may become more important as new, computerized market systems emerge and evolve to higher levels of complexity of both kinds. (shrink)

This article argues that the neoclassical era in economics has ended and is being replaced by a new era. What best characterizes the new era is its acceptance that the economy is complex, and thus that it might be called the complexity era. The complexity era has not arrived through a revolution. Instead, it has evolved out of the many strains of neoclassical work, along with work done by less orthodox mainstream and heterodox economists. It is only in its beginning (...) stages. The article discusses the work that is forming the foundation of the complexity era, and how that work will likely change the way in which we understand economic phenomena and the economics profession. (shrink)

Much empirical analysis and econometric work recognizes that there are nonlinearities, regime shifts or structural breaks, asymmetric adjustment costs, irreversibilities and lagged dependencies. Hence, empirical work has already transcended neoclassical economics. Some progress has also been made in modeling endogenously generated cyclical growth and fluctuations. All this is inconsistent with neoclassical general equilibrium. Hence there is growing evidence of Kuhnian anomalies. It therefore follows that there is a Kuhnian crisis in economics and further research in nonlinear dynamics and complexity can (...) only increase the Kuhnian anomalies. This crisis can only deepen. However, there is an ideological commitment to general equilibrium that justifies “free enterprise” with only minimal state intervention that may still sustain neoclassical economics despite the growing evidence of Kuhnian anomalies. Thus, orthodox textbook theory continues to ignore this fact and static neoclassical theory remains a dogma with no apparent reformulation to replace it. (shrink)

This paper considers the implications of complex ecologic-economic dynamics for three broad, Post Keynesian perspectives: the uncertainty perspective, the macrodynamics perspective, and the Sraffian perspective. Catastrophic, chaotic, and other complex dynamics will be seen as reinforcing the conceptual foundations of Keynesian uncertainty. Predatory-prey models will be seen as deeply linked to Post Keynesian macrodynamic models. Finally, certain cases in ecologiceconomic systems will be seen as generating such Sraffian, capital theoretic conundra as reswitching. Ecologic-economic models considered besides predator-prey will include fisheries, (...) forestry, lake dynamics, and global climatic-economic dynamics. (shrink)

considerable publicity in some of the leading general science journals such as Science and Nature. While most of this research has appeared in physics journals, some has appeared in economics journals as well, more often when at least one author is an economist. Strong claims have been made by some advocates regarding its reputed superiority to economics (McCauley, 2004), with arguments that in fact the teaching of microeconomics and macroeconomics as they are currently constituted should cease and be replaced by (...) appropriate courses in mathematics, physics, and some other harder sciences. The lack of invariance principles in economics and the failure of economists to deal properly with certain empirical regularities are held against it in this line of argument, although most econophysicists do not go as far as McCauley in proposing the complete replacement of economics as such by econophysics. (shrink)

The most important fact about 21st century economics is that it is the post-neoclassical era in terms of the frontiers of economic research. One can still find orthodox, neoclassical theory in most textbooks, especially those at the upper undergraduate level. However, this no longer reflects the reality of how economists at the cutting edge of economics are thinking, including those who are in the mainstream of the profession. The intellectual orthodoxy of neoclassicism has died (Colander, 2000) and the current thrust (...) of research at the cutting edge of the frontier is the search for the appropriate alternative to replace it. (shrink)

The first is that we are wrong to suggest that the mainstream is no longer limited to a restrictive orthodoxy of beliefs and assumptions that discourages dissenting voices. In developing his argument, Vernengo claims that our characterization of a cutting edge branch of the mainstream that does not hold to a neoclassical orthodoxy is misleading. Although he states that he accepts our characterization of the economics profession as a complex adaptive system, with many competing views, he sees the cutting edge (...) as a sham. He argues that the true role of the cutting edge is to allow the mainstream to “sound reasonable when talking about reality, while orthodoxy provides authority to the cutting edge.” He calls this an “organized hypocrisy” and calls us naive about the sociology of the economics profession. Because of this naiveté on our part he believes that we are giving bad advice to advocate that heterodox economists should think of themselves as economists first and heterodox economists second. (shrink)

Much empirical analysis and econometric work recognizes that there are nonlinearities, regime shifts or structural breaks, asymmetric adjustment costs, irreversibilities and lagged dependencies. Hence, empirical work has already transcended neoclassical economics. Some progress has also been made in modeling endogenously generated cyclical growth and fluctuations. All this is inconsistent with neoclassical general equilibrium. Hence there is growing evidence of Kuhnian anomalies. It therefore follows that there is a Kuhnian crisis in economics and further research in nonlinear dynamics and complexity can (...) only increase the Kuhnian anomalies. This crisis can only deepen. However, there is an ideological commitment to general equilibrium that justifies “free enterprise” with only minimal state intervention that may still sustain neoclassical economics despite the growing evidence of Kuhnian anomalies. Thus, orthodox textbook theory continues to ignore this fact and static neoclassical theory remains a dogma with no apparent reformulation to replace it. (shrink)